ALAMO GROUP ANNOUNCES FINANCIAL RESULTS FOR THE FOURTH QUARTER AND YEAR END 2024

About this update from Alamo Group, Inc.

[{"type":"text","content":"SEGUIN, Texas, Feb. 27, 2025 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) today reported results for the fourth quarter and fiscal year ended December 31, 2024.","length":160,"tagName":"p"},{"type":"text","content":"Highlights:","length":11,"tagName":"p"},{"type":"text","content":"Fourth Quarter Results:","length":23,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net Sales of $385.3 million, down 7.7% versus prior year","length":56,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Industrial Equipment Division net sales of $225.5 million, up 11.0%","length":67,"tagName":"p"}]},{"val":[{"type":"text","content":"Vegetation Management Division net sales of $159.8 million, down 25.5%","length":70,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":137,"olType":false}]},{"val":[{"type":"text","content":"Income from operations of $34.4 million, 8.9% of net sales","length":58,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Fourth quarter results include approximately $1.0 million in separation costs","length":77,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":77,"olType":false}]},{"val":[{"type":"text","content":"Net income of $28.1 million","length":27,"tagName":"p"}]},{"val":[{"type":"text","content":"Fully diluted EPS of $2.33 per share; fully diluted EPS of $2.39, excluding fourth quarter separation costs(1)","length":110,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":465,"olType":false},{"type":"text","content":"Full Year Results:","length":18,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net Sales of $1.629 billion, down 3.6% versus prior year","length":56,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Industrial Equipment Division net sales of $843.3 million, up 18.7%","length":67,"tagName":"p"}]},{"val":[{"type":"text","content":"Vegetation Management Division net sales of $785.2 million, down 19.8%","length":70,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":137,"olType":false}]},{"val":[{"type":"text","content":"Income from operations of $164.8 million, 10.1% of net sales, double-digit profitability, despite market headwinds","length":114,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total impact from cost reduction effort...

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